New Delhi [India], December 22 (ANI): Industry leaders have welcomed the Free Trade Agreement (FTA) between India and New Zealand calling it as forward-looking, next-generation pact that strengthens India's economic integration with the Indo-Pacific, enhances export competitiveness, supports talent mobility, and reinforces long-term bilateral cooperation in line with the vision of Viksit Bharat 2047.

Speaking on the development, Anant Goenka, President of FICCI, said, 'India's expanding global trade footprint continues to gain momentum under the leadership of PM Narendra Modi. FICCI welcomes the conclusion of the India-New Zealand Free Trade Agreement, a significant step towards deepening economic engagement with the Indo-Pacific region. The agreement is expected to enhance bilateral trade, investment flows, and further collaboration, creating new growth opportunities for businesses in both countries.'

Rajeev Juneja, President, PHDCCI said, 'We welcome the conclusion of the India-New Zealand Free Trade deal as a partnership aligned with India's vision of Viksit Bharat 2047. The deal delivers 100% zero-duty market access for Indian exports, and a framework that supports students, professionals, MSMEs, and labour-intensive sectors. Commitments on investment, regulatory cooperation, and duty-free inputs will enhance competitiveness, integrate Indian industry into global value chains across all sectors.'

Ranjeet Mehta, CEO & Secretary General, PHDCCI said, 'India-New Zealand Free Trade Agreement represents a next-generation deal combining trade liberalisation with talent mobility, investment, and productivity-led cooperation. This comes with well-standardized agricultural safeguards and technology-focused partnerships protecting farmer interests while raising productivity. The Agreement provides policy certainty and lowers input costs for manufacturing, creating a vision for long-term economic resilience.'

Subhrakant Panda, Past President, FICCI and Managing Director, Indian Metals & Ferro Alloys Ltd (IMFA) said, 'The India-New Zealand FTA is an example of trade diplomacy at its best. Concluded in a record time of 9 months, it furthers Prime Minister Narendra Modi's vision of sustainable growth. By complementing broader bilateral cooperation in areas such as education, skill development, and people-to-people contact, it reinforces the long term partnership which is mutually beneficial.'

The Global Trade Research Initiative (GTRI) in a note said, 'The India-New Zealand Free Trade Agreement (FTA) represents a framework for deeper cooperation rather than a major trade breakthrough, with its real impact depending on how both countries strengthen practical economic links beyond tariff reductions.'

According to GTRI, given the limited scale of bilateral trade at USD 2.1 billion in FY2025, the FTA is strategic in nature and not volume-driven. While the agreement brings greater predictability in goods, services, mobility and investment, its success will hinge on building supply chains, expanding services trade, deepening education and skills partnerships, and leveraging the Indian diaspora along with mobility provisions. (ANI)